According to the report published by Allied Market Research, the global solar boat market generated $0.65 billion in 2021, and is estimated to reach $2.4
According to the report published by Allied Market Research, the global solar boat market generated $0.65 billion in 2021, and is estimated to reach $2.4
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Market players are focusing on innovating and designing solar hybrids with augmented passenger capacity to fulfil the growing market demand.
DUBAI, UAE / ACCESSWIRE / December 31, 2020 / Future Market Insights: As per FMI the global electric boats market will grow at a robust CAGR of 11.0% over the forecast period, 2018-2028. The market growth is spurred by growing adoption of small size boats for purposes of maritime security as well as advancement of lightweight boats fueled by electric power. At present, the market is negatively impacted by the COVID-19 outbreak, however, the market is anticipated to gradually regain its status with the reopening of tourist places and ports.
Electric Boat Market| Growing at a CAGR of 11.9% from 2019 to 2027
December 30, 2020 | by admin |
The latest market report published by Credence Research, Inc. “
Electric Boat Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global market is worth US$ 4.49 Bn in 2018 and expected to grow at a CAGR of 11.9% during the forecast period from 2019 to 2027.
Market Insights
Advancement in battery technology and decreasing battery prices is fueling the market growth
High pollution rate of gasoline-powered combustion boat and rising fuel prices have shifted the priority of boat manufacturers to battery technology. Advancement in battery technology that offers longer run-time and higher speed is driving the demand for Electric Boat market, worldwide. In addition, noteworthy advantages offered by Electric Boat such as noiseless, smokeless, less vibration and less engine maintenance than the combustion boat helped the market to grow con